The following amounts summarize the financial position of Little Yellow Dog Inc. on May $31,202$

During June $202,$ the business completed these transactions:

June $1$: Began the business with an investment of $$4000$ cash in exchange for common shares

June $1$: Purchased a computer for a total of $$5600$ by signing a note payable. Interest of $5\%$ to be paid with the note payable on June $1$ next

year. The computer is expected to last $3$ years.

June $5$: Purchased office supplies on account for $$5200.$

June $9$: Invoiced a client for services performed, $$2800.$

June $13$: Received $$400$ cash from a customer to clear the balance owing on their account.

June $20$: Received a $$320$ bill for advertising for a campaign that had been run during the month.

June $23$: Paid $$2400$ of a bill received earlier in the month.

June $25$: Performed services for clients and received $$1600$ in cash.

June $30$: Declared and paid a cash dividend of $$240.$

June $30$: A physical count revealed that $$80$ worth of supplies are still on hand.

June $30$: Paid $$480$ for the month's office rent. Employee salaries were also accrued. Employees work $5$ days each week and are paid $$2000$

every Friday. The month ended on a Wednesday.

Other Information:

In the past, Little Yellow Dog Inc. has used the following accounts on their income statement: Revenue. Depreciation Expense,

Interest Expense, Rent Expense, Salaries Expense, Advertising Expense, and Supplies Expense. They use the Dividends account

to record dividends. Not all accounts have been used each period.

Required:

Create all necessary journal entries $($including adjusting entries$)$ for the month of June $202.$ Place your answer under

"Requirement $1^{**}$ in the "Answer" tab. Note that the dates have been pre$-$populated. Ensure your journal entries match the

appropriate date. Explanations are not required.

Prepare the Income Statement for the month ended June $30,202$ X$.$ List expenses in decreasing order by amount. Place your

answer under "Requirement $3^{**}$ in the "Answer" tab.

Prepare the Statement of Retained Earnings for the month ended June $30,202\backslash$times $.$ Place your answer under "Requirement $4"$ in the

"Answer" tab."

Prepare the Balance Sheet at June $30,202$x$.$ Place your answer under "Fequirement $5^{**}$ in the "Answer" tab.

Using the method outlined in the textbook, journalize the necessary closing entries for the month ended June $30,202.$ Place your

answer under "Requirement $6$ in the "Answer" tab. Explanations and dates are not required.